USD dollar fell against major currencies on Monday as hopes of a deal to reopen the Strait of Hormuz pushed oil prices below $100 per barrel, even as the U.S. and Iran played down the chances of reaching an agreement soon. Meanwhile many global markets - including in the U.S., Hong Kong, Britain and most of Europe - were closed for public holidays on Monday, leading to thinner liquidity. Against the yen, the U.S. dollar was down 0.2 per cent at 158.89 yen.
Japan will build up an extra $19 billion in reserves to subsidise fuel costs and help tackle cost of living pressures, Prime Minister Sanae Takaichi said on Monday, while looking to assuage bond market concerns by promising no extra borrowing overall.The supplementary budget was first reported earlier this month.
